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Eclipse to Minimize D&C Activity in 2016; IDs 1Q16 Capex
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Eclipse Resources Corporation reported an operational update, its initial outlook on the First Quarter 2016 guidance and capital budget.
Operational UpdateThe Company continues to closely monitor the commodity price environment, and the Company currently plans to minimize its drilling and completion activity until commodity prices improve. Despite its drilling cessation, which the Company initiated in November of 2015, the Company believes it is on pace to exceed the high end of its fourth quarter 2015 and full year production guidance range. Based on preliminary estimates, which are subject to change as final sales figures are determined, the Company currently anticipates that it exited 2015 with approximately 268 MMcfe per day of net production with fourth quarter 2015 average net…
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